Global Mediacom block raises $200 million

Global Mediacom’s controlling shareholder sold a $200 million block in the company late last week in an apparent bid to bolster his political ambitions.

The stake was offloaded by Winfly, a company that is described as being “beneficially connected with” Indonesian tycoon Hary Tanoesoedibjo, president director of Global Mediacom, who controls the company through a 51% stake owned by his investment firm, Bhakti Investama.

Tanoesoedibjo reportedly joined the newly established National Democratic...